Burney Co. Buys 21,548 Shares of Pinterest, Inc. $PINS

Burney Co. increased its stake in shares of Pinterest, Inc. (NYSE:PINS) by 23.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 115,109 shares of the company’s stock after purchasing an additional 21,548 shares during the period. Burney Co.’s holdings in Pinterest were worth $3,703,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in PINS. Renaissance Group LLC increased its stake in shares of Pinterest by 4.5% in the 2nd quarter. Renaissance Group LLC now owns 1,019,178 shares of the company’s stock valued at $36,548,000 after acquiring an additional 43,541 shares during the last quarter. Oppenheimer Asset Management Inc. increased its stake in Pinterest by 243.1% in the second quarter. Oppenheimer Asset Management Inc. now owns 69,446 shares of the company’s stock valued at $2,490,000 after purchasing an additional 49,204 shares in the last quarter. Norges Bank acquired a new stake in Pinterest in the second quarter worth $477,853,000. KLP Kapitalforvaltning AS boosted its position in shares of Pinterest by 8.0% during the second quarter. KLP Kapitalforvaltning AS now owns 412,200 shares of the company’s stock worth $14,781,000 after purchasing an additional 30,500 shares in the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd grew its holdings in shares of Pinterest by 101.2% in the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 108,064 shares of the company’s stock valued at $3,875,000 after buying an additional 54,365 shares during the period. Institutional investors and hedge funds own 88.81% of the company’s stock.

Insider Buying and Selling

In other news, insider Wanjiku Juanita Walcott sold 74,047 shares of the stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $26.89, for a total transaction of $1,991,123.83. Following the completion of the transaction, the insider directly owned 301,214 shares in the company, valued at $8,099,644.46. This represents a 19.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 7.06% of the stock is owned by company insiders.

Pinterest Stock Performance

NYSE PINS opened at $26.14 on Friday. Pinterest, Inc. has a 52 week low of $23.68 and a 52 week high of $40.90. The stock’s 50 day moving average price is $27.98 and its two-hundred day moving average price is $32.86. The stock has a market capitalization of $17.66 billion, a price-to-earnings ratio of 9.07, a PEG ratio of 1.66 and a beta of 0.89.

Pinterest (NYSE:PINS) last issued its quarterly earnings results on Tuesday, September 19th. The company reported $0.11 earnings per share for the quarter. Pinterest had a net margin of 48.99% and a return on equity of 8.20%. The company had revenue of $665.93 million during the quarter. On average, equities research analysts forecast that Pinterest, Inc. will post 0.6 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently commented on PINS. Wedbush downgraded Pinterest from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $34.00 to $30.00 in a research note on Monday, December 8th. Barclays dropped their price target on Pinterest from $40.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 5th. Morgan Stanley decreased their price objective on Pinterest from $41.00 to $32.00 and set an “overweight” rating for the company in a research report on Wednesday, November 26th. Cantor Fitzgerald dropped their target price on shares of Pinterest from $40.00 to $34.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and issued a $30.00 price target (down previously from $49.00) on shares of Pinterest in a research note on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.97.

About Pinterest

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate “Pins” — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company’s primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.